MANILA, Philippines — Senate President Francis Escudero is confident that a new law which allows foreign investors to lease private land for up to 99 years woll make the country look more like an ideal investment destination.
Escudero says new lease law to make PH more appealing to investors
"Foreign investors have long complained about the prohibitive provisions of our laws regarding the ownership of land by non-Filipinos. Businesses will never place their funds in destinations where there is uncertainty in laws and regulations. This law will go a long way in addressing these concerns," Escudero, an author of the law, said in a statement on Saturday.
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252.
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years., This news data comes from:http://www.ycyzqzxyh.com
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- Lacson: Torre 'acted beyond his authority'
- New judge to handle Dengvaxia cases named; hearing set
- 'Ondoy'-level rains swamp Quezon City
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- North Korean leader inspects new missile factory ahead of visit to China
- Pope meets with Chagos refugees and delivers message about rights of the weak against the powerful
- Malabon shifts garbage disposal to Rizal landfill after Navotas closure
- Prince Harry to visit UK on anniversary of queen's death
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
